Puerto Rico Tax Alert: Act 14-217: New Tax Incentives for Qualified Physicians

As a public policy matter, on February 21, 2017, the Government of Puerto Rico enacted Act 14-2017 to incentivize medical professionals to stay in Puerto Rico or move to Puerto Rico and practice medicine locally. This incentive is granted by means of a tax exemption decree (the “ Decree” ) to be issued by the Secretary of Economic Development and Commerce providing a reduced income tax rate of 4% on Eligible Income, in lieu of any other income tax; and full income tax (including the alternate basic tax) and withholding exemption on Eligible Dividends up to $250,000 per year. You can view the article by clicking on the following link:

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